Irenic Acquisition Corp. completes $220 million IPO on NASDAQ

Irenic Acquisition Corp. (NASDAQ: IACQU) completed its initial public offering of 22 million units at $10.00 per unit, raising $220 million. The special purpose acquisition company's units began trading on the Nasdaq Global Market on April 28, 2026.

Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Whole warrants are exercisable to purchase one Class A ordinary share at $11.50 per share. The Class A ordinary shares and warrants are expected to trade separately on Nasdaq under symbols "IACQ" and "IACQW" once separate trading begins.

The company was formed to pursue mergers, share exchanges, asset acquisitions or similar business combinations. Irenic Capital Management LP sponsors the company, with its executive officers serving as principals. The company plans to focus its search on companies in aerospace, defense and broader industrial sectors, though it may pursue targets in any industry or geographic location.

Jefferies served as sole book running manager for the offering, while Odeon Capital Group LLC acted as co-manager. The underwriters received a 45-day option to purchase up to 3.3 million additional units at the IPO price to cover over-allotments.

The Securities and Exchange Commission declared the registration statement effective on April 27, 2026. The information is based on a company press release.

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